GST Return Filing

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GST Return Filing

A. About:

Filing GST (Goods and Services Tax) returns is a mandatory compliance requirement for various types of taxpayers under the GST regime in India. Here’s a breakdown of who should file GST returns:

  1. Registered Taxpayers:
  • Regular Taxpayers: Businesses registered under GST, including individuals, partnerships, LLPs, companies, and other entities, must file GST returns regularly.
  • Composition Scheme Taxpayers: Taxpayers registered under the composition scheme are required to file quarterly returns.
  • Input Service Distributors (ISDs): Entities that receive invoices for input services and distribute credit of GST paid on these services to their units are required to file GST returns.
  1. Non-Resident Taxable Persons:
  • Non-Resident Taxable Persons (NRTPs): Individuals or businesses that do not have a fixed place of business in India but are liable to pay GST are required to file GST returns.
  1. E-commerce Operators:
  • E-commerce Operators: Platforms facilitating the supply of goods or services through electronic means must file GST returns, including details of supplies made through their platform and the tax collected at source.
  1. Authorities Deducting Tax at Source:
  • Authorities Deducting Tax at Source (TDS): Entities or authorities required to deduct tax at source under GST are required to file returns providing details of TDS deducted and deposited.
  1. Input Service Distributors (ISDs):
  • Input Service Distributors: Entities that receive invoices for input services and distribute credit of GST paid on these services to their units are required to file GST returns.
  1. Unique Identification Number (UIN) Holders:
  • UIN Holders: Organizations or entities such as embassies, consulates, and UN bodies holding a Unique Identification Number (UIN) are required to file GST returns for inward supplies received.
  1. Special Cases:
  • Canceled/Surrendered Registrants: Taxpayers whose GST registration has been canceled or surrendered must file a final return within three months from the date of cancellation.
  • Casual Taxable Persons: Individuals or businesses making occasional taxable supplies in a jurisdiction where they do not have a fixed place of business must file GST returns.

Filing GST (Goods and Services Tax) returns is a critical compliance requirement for businesses registered under GST. The process involves submitting various forms detailing sales, purchases, tax collected, and tax paid. Here’s a comprehensive guide on GST filing, including the types of returns, their due dates, and steps involved.

Related Guides

B. Types of GST Returns:

  1. GSTR-1:
  • Details: Outward supplies of goods and services (sales).
  • Frequency: Monthly/Quarterly.
  • Due Date:
  • Monthly: 11th of the following month.
  • Quarterly: 13th of the month following the quarter.
  1. GSTR-2A:
  • Details: Auto-populated details of inward supplies made available to the recipient on the basis of GSTR-1 filed by the supplier.
  • Frequency: Monthly.
  • Due Date: Read-only.
  1. GSTR-2B:
  • Details: Auto-drafted ITC statement.
  • Frequency: Monthly.
  • Due Date: 14th of the following month.
  1. GSTR-3B:
  • Details: Summary return of outward and inward supplies, along with payment of tax.
  • Frequency: Monthly.
  • Due Date: 20th of the following month.
  1. GSTR-4:
  • Details: Quarterly return for compounding taxable persons.
  • Frequency: Quarterly.
  • Due Date: 18th of the month following the quarter.
  1. GSTR-5:
  • Details: Return for non-resident taxable persons.
  • Frequency: Monthly.
  • Due Date: 20th of the following month or within 7 days after expiry of registration.
  1. GSTR-6:
  • Details: Return for input service distributors.
  • Frequency: Monthly.
  • Due Date: 13th of the following month.
  1. GSTR-7:
  • Details: Return for authorities deducting tax at source (TDS).
  • Frequency: Monthly.
  • Due Date: 10th of the following month.
  1. GSTR-8:
  • Details: Details of supplies effected through e-commerce operators and the amount of tax collected.
  • Frequency: Monthly.
  • Due Date: 10th of the following month.
  1. GSTR-9:
  • Details: Annual return for regular taxpayers.
  • Frequency: Annually.
  • Due Date: 31st December of the next financial year.
  1. GSTR-9C:
  • Details: Reconciliation statement and certification for taxpayers with a turnover above ₹2 crores.
  • Frequency: Annually.
  • Due Date: 31st December of the next financial year.
  1. GSTR-10:
  • Details: Final return for those whose registration has been canceled or surrendered.
  • Due Date: Within three months of the date of cancellation or date of order of cancellation, whichever is later.
  1. GSTR-11:
  • Details: Details of inward supplies to be furnished by a person having UIN (Unique Identification Number).
  • Frequency: Monthly.
  • Due Date: 28th of the following month.

C. DUE DATE OF GST FILING:

The due dates for filing GST (Goods and Services Tax) returns vary depending on the type of return and the taxpayer’s category. Here are the due dates for the different types of GST returns:

Monthly Returns
  1. GSTR-1: Details of outward supplies of goods or services.
  • Monthly: 11th of the following month.
  • Quarterly (for taxpayers with an aggregate turnover up to ₹5 crores under the QRMP scheme): 13th of the month following the quarter.
  1. GSTR-2A: Auto-drafted details of inward supplies.
  • Frequency: Monthly.
  • Due Date: View-only document, no filing required.
  1. GSTR-2B: Auto-drafted ITC statement.
  • Frequency: Monthly.
  • Due Date: 14th of the following month.
  1. GSTR-3B: Summary return of outward supplies and input tax credit.
  • Frequency: Monthly.
  • Due Date: 20th of the following month.
  1. GSTR-5: Return for non-resident taxable persons.
  • Frequency: Monthly.
  • Due Date: 20th of the following month or within 7 days after the last day of registration, whichever is earlier.
  1. GSTR-6: Return for input service distributors (ISD).
  • Frequency: Monthly.
  • Due Date: 13th of the following month.
  1. GSTR-7: Return for authorities deducting tax at source (TDS).
  • Frequency: Monthly.
  • Due Date: 10th of the following month.
  1. GSTR-8: Return for e-commerce operators collecting TCS.
  • Frequency: Monthly.
  • Due Date: 10th of the following month.
Quarterly Returns
  1. GSTR-1: For taxpayers under the QRMP scheme.
  • Due Date: 13th of the month following the quarter.
  1. GSTR-4: Return for composition scheme taxpayers.
  • Frequency: Annually (but filed quarterly prior to FY 2019-20).
  • Due Date: 18th of the month following the quarter (for quarterly returns prior to FY 2019-20).
Annual Returns
  1. GSTR-9: Annual return for regular taxpayers.
  • Frequency: Annually.
  • Due Date: 31st December of the following financial year.
  1. GSTR-9C: Reconciliation statement and certification for taxpayers with an annual turnover above ₹5 crores.
  • Frequency: Annually.
  • Due Date: 31st December of the following financial year.
Special Cases
  1. GSTR-10: Final return for taxpayers whose GST registration has been canceled or surrendered.
  • Frequency: Once (final return).
  • Due Date: Within three months of the date of cancellation or date of order of cancellation, whichever is later.
  1. GSTR-11: Details of inward supplies for persons with a Unique Identification Number (UIN) claiming a refund.
  • Frequency: Monthly.
  • Due Date: 28th of the month following the month for which the statement is filed.
Penalties for Late Filing:
  • Late Fee: ₹50 per day (₹25 CGST + ₹25 SGST) for regular taxpayers. For NIL returns, the late fee is ₹20 per day (₹10 CGST + ₹10 SGST).
  • Interest: 18% per annum on the outstanding tax amount

Timely filing of GST returns is crucial to avoid penalties and ensure compliance. Keeping track of due dates and utilizing the GST portal for filing can help businesses maintain smooth operations and leverage benefits such as input tax credits effectively.

 

D. CONSEQUENCES OF NOT FILING GST RETURN:

Not filing GST (Goods and Services Tax) returns can have serious consequences for taxpayers. Here are the main repercussions of not filing GST returns:

  1. Financial Penalties:
  • Late Fee: The taxpayer may be liable to pay a late fee for each day of delay in filing the GST return. The late fee is ₹50 per day (₹25 CGST + ₹25 SGST) for regular returns. For NIL returns, the late fee is ₹20 per day (₹10 CGST + ₹10 SGST).
  • Interest: Interest is charged on the outstanding tax amount at the rate of 18% per annum from the due date until the date of payment.
  1. Loss of Input Tax Credit (ITC):
  • Non-filing of GST returns can lead to the loss of input tax credit (ITC) for the taxpayer. Input tax credit is a crucial benefit under GST that allows taxpayers to set off the tax paid on inputs against the tax liability on output supplies.
  1. Legal Consequences:
  • Prosecution: Non-filing of GST returns can lead to legal action against the taxpayer. The tax authorities may initiate prosecution proceedings under the GST law, which can result in fines or imprisonment.
  • Seizure of Goods: Tax authorities have the power to seize goods or assets of the taxpayer to recover the outstanding tax amount.
  1. Inability to Carry out Business Transactions:
  • Non-compliance with GST return filing requirements may result in the taxpayer being barred from conducting certain business transactions, such as participating in government tenders or obtaining contracts.
  1. Damage to Business Reputation:
  • Non-filing of GST returns can damage the taxpayer’s business reputation. It may lead to loss of trust among suppliers, customers, and other stakeholders, affecting future business opportunities.
  1. Compulsory Registration by Authorities:
  • If the tax authorities identify that a taxpayer should have registered for GST and filed returns but failed to do so, they can compulsorily register the taxpayer and demand the tax dues along with penalties and interest.
  1. Difficulty in Rectification:
  • Delay or non-filing of GST returns can complicate the rectification process. Rectifying errors or discrepancies in past returns may become challenging, leading to further penalties and legal consequences.

Non-filing of GST returns can have severe financial, legal, and reputational consequences for taxpayers. It is crucial for businesses and individuals to comply with GST return filing requirements and ensure timely and accurate filing to avoid penalties, loss of benefits, and legal liabilities. Staying informed about the due dates and requirements for filing GST returns is essential for maintaining compliance with GST laws.

E.Frequently asked questions (FAQs) Related to GST Return Filing:

o A GST return is a document that contains details of income, sales, expenses, and purchases that a taxpayer must file with the tax authorities to calculate their tax liability.

o Every individual or business registered under GST must file GST returns, including regular taxpayers, composition scheme taxpayers, casual taxable persons, non-resident taxable persons, and e-commerce operators.

o The main types of GST returns are:

  • GSTR-1: Details of outward supplies of goods and/or services.
  • GSTR-2A: Read-only document for inward supplies auto-populated from the seller’s GSTR-1.
  • GSTR-3B: Summary return of inward and outward supplies, with payment of tax.
  • GSTR-4: Quarterly return for composition scheme taxpayers.
  • GSTR-9: Annual return for regular taxpayers.
  • GSTR-9A: Annual return for composition scheme taxpayers.
  • GSTR-9C: Reconciliation statement for taxpayers required to get their accounts audited.
  • GSTR-10: Final return when GST registration is canceled.
  • GSTR-11: Return for persons with UIN claiming a refund.

o The due dates vary for different types of returns:

  • GSTR-1: 11th of the following month.
  • GSTR-3B: 20th of the following month.
  • GSTR-4: 18th of the month following the end of the quarter.
  • GSTR-9: 31st December of the next financial year.
  • GSTR-9C: 31st December of the next financial year.

o A late fee is charged for filing returns after the due date. The late fee is Rs. 50 per day (Rs. 25 each for CGST and SGST) for regular taxpayers and Rs. 20 per day (Rs. 10 each for CGST and SGST) for nil returns. Additionally, interest at 18% per annum is charged on the outstanding tax amount.

o No, GST returns cannot be revised. However, any errors or omissions can be rectified in the subsequent return.

o GSTR-3B is a monthly self-declared summary return that every registered taxpayer must file to declare their summary GST liabilities for the month and make payments.

o GSTR-1 is a detailed return of all outward supplies made by the taxpayer in a month, while GSTR-3B is a summary return that includes details of both outward and inward supplies along with the payment of tax.

o GSTR-9 is an annual return that consolidates information provided in monthly or quarterly returns filed during the year. It includes details of outward and inward supplies, ITC availed, and tax paid.

o GSTR-9C is a reconciliation statement required to be filed by taxpayers whose annual turnover exceeds Rs. 2 crores. It must be certified by a Chartered Accountant or Cost Accountant.

o Apart from the late fee, non-filing of GST returns can lead to a notice from the tax authorities, and continuous default may result in the cancellation of GST registration.

o No, the tax due must be paid before filing the return. The return will not be considered valid if the tax payment is not made.

o ITC reconciliation involves matching the details of inward supplies (purchases) in the taxpayer’s GSTR-2A with the outward supplies (sales) details uploaded by the supplier in GSTR-1 to ensure the correct ITC claim.

o Errors can be rectified in the subsequent return. For instance, if you made an error in the GSTR-3B filed for April, you can correct it in the GSTR-3B for May.

o Yes, refunds can be claimed through GST returns if the taxpayer has excess ITC, exports goods or services, or in cases where the tax paid was more than the tax liability.

o GSTR-10, also known as the final return, is required to be filed by a taxpayer whose GST registration has been canceled or surrendered. It must be filed within three months from the date of cancellation or the date of the cancellation order, whichever is later.

o Yes, even if there are no transactions during a tax period, registered taxpayers must file a nil return.

o The process involves:

  • Logging into the GST portal.
  • Preparing the return using offline utility or online forms.
  • Uploading the required data.
  • Submitting the return.
  • Making the payment of tax.
  • Filing the return with a digital signature or EVC (Electronic Verification Code).

F. Documents Required for GST Return Filing:

  1. Sales Invoices:

o Invoices issued for outward supplies (sales) made during the tax period.

  1. Purchase Invoices:

o Invoices received for inward supplies (purchases) made during the tax period.

  1. Bank Statements:

o Bank statements showing transactions related to business operations, including receipts and payments.

  1. Credit/Debit Notes:

o Credit notes issued for sales returns or adjustments and debit notes received for purchase returns or adjustments.

  1. Goods Receipt Notes (GRNs) and Delivery Challans:

o GRNs and delivery challans for goods received or delivered, especially in cases of interstate or intrastate movement of goods.

  1. Tax Payment Challans:

o Challans or receipts for payment of GST, including details of tax paid under various heads (CGST, SGST/UTGST, IGST, and cess).

  1. Input Tax Credit (ITC) Reconciliation Statement:

o Statement reconciling the input tax credit (ITC) claimed in GSTR-3B with the details available in GSTR-2A.

  1. Export Invoices and Shipping Documents (if applicable):

o Invoices and shipping documents for exports of goods or services, including details of foreign currency transactions.

  1. Import Invoices and Customs Documents (if applicable):

o Invoices and customs documents for imports of goods or services, including details of customs duty paid.

  1. Tax Deduction at Source (TDS) Certificates (if applicable):

o TDS certificates issued by deductors for tax deducted at source on payments made to the taxpayer.

  1. Tax Collected at Source (TCS) Certificates (if applicable):

o TCS certificates issued by e-commerce operators for tax collected at source on supplies made through their platforms.

  1. Relevant Supporting Documents:

o Any other relevant supporting documents such as contracts, agreements, or legal documents related to transactions.

Information Required for GST Return Filing:
  1. Business Details:

o Legal name of the business, trade name (if any), GSTIN, and other registration details.

  1. Turnover Details:

o Turnover figures for outward and inward supplies, including taxable, exempt, and nil-rated supplies.

  1. Taxable Value and Tax Amount:

o Taxable value and tax amount for each transaction, segregated by GST rates (e.g., 5%, 12%, 18%, 28%).

  1. Input Tax Credit (ITC) Details:

o Details of eligible input tax credit claimed on purchases, imports, and other inputs.

  1. HSN/SAC Codes:

o Harmonized System of Nomenclature (HSN) codes for goods and Services Accounting Code (SAC) for services, as applicable.

  1. Place of Supply Details:

o Place of supply details, especially for interstate supplies, to determine the applicability of IGST.

  1. Tax Payment Details:

o Details of tax paid under various heads (CGST, SGST/UTGST, IGST, and cess) and through different modes of payment.

  1. Tax Liability and Adjustment Details:

o Details of tax liability for the tax period, adjustments, and net tax payable/receivable.

  1. Any Other Information Required by GSTN:

o Any additional information or declarations required by the Goods and Services Tax Network (GSTN) or tax authorities.

It’s essential to maintain proper documentation and ensure accurate reporting of transactions to comply with GST laws and avoid penalties for non-compliance. Additionally, businesses may need to consult with tax professionals or accountants for specific guidance on GST return filing based on their business activities and transactions.

 

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